MarkZ
[via PDK] ...What one person calls a redemption center-another calls a bank. But overwhelmingly redemption centers are in banks…Banks that are set up with people trained to exchange currencies and all the procedures and equipment…. Call it whatever you want. Call it a “redeeming bank”…Most work in dual roles…in wealth management and will be assisting with exchanges when it happens…so most are already employed at banks.
We are watching it happen…and yes it is just moving so slowly. Slowly, slowly then suddenly it’s going to go. BAM
Question: ...Mr. C. [Guru Mike Cottrell] said that Iraq will have an RI (as opposed to the RV); what is an RI and what's the difference?
MarkZ: An RI is a reinstatement of the former rate before they devalued the dinar…It is my understanding they can reinstate it to the old rate PLUS…add more for the inflation that happened during that time period….
I think the old rate was around $3.22-$3.30 or so…then if you add in inflation for the last 20 years and you can justify a rate of over $4 or so,…a RV is a revaluation of any rate that’s not the RI rate.
We were getting strange rates in Iraq today...It doesn’t seem to be an official process but an unofficial process. Many merchants or money handlers have put a different value on their dinar. They believe the dinar is about to take a serious spike in value. So they were charging a premium if you wanted any of their dinar...
It’s been an interesting day but, I have not been able to confirm the rumors of $1.13 or so rate…but I can verify the number of sources that tell me “yes, there were major wild swings in the dinar based on who you were negotiating with...I could not confirm the rates many...have said…I can verify the value swung greatly today. I believe its telling us that the people of Iraq believe the timing is very, very soon.
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